I'm with James & Don here, aim low, connect with heart or just above it, or lungs on the drop. I also aim straight up the front leg, no farther back! There's a great discusssion with photos about shot-placement over on BowSite.
IMHO, it's not just the bow noise, it's fletching and/or broadhead noise too. I've heard enough of it whilst standing behind scoring barricades and shooting archery golf to convince me.
We tend to miss high when we miss, so aiming low increases the chances of a decent hit. Good hunting to all.